Earlier in the day, SGX and China Financial Futures Exchange (CFFEX) signed a Memorandum of Understanding (MOU) to cooperate in the development of the derivatives markets in China and Singapore. The agreement was signed between Mr Rong Zhiping, Deputy CEO, CFFEX and Mr Bocker. The MOU adds to those which SGX has signed with Chongqing, Fujian, Jiangsu, Liaoning, Shandong, Tianjin and Zhejiang, as well as the Agricultural Bank of China.

Mr Bocker said: “Being a trusted global marketplace that is ranked tops for corporate governance and located in the heart of a growing ASEAN, Singapore and SGX are strategically positioned to provide a clear advantage for Chinese companies wanting to expand their business internationally. We can be an effective bridge between markets in the East and the West.”